(Bloomberg) -- Less than two weeks after Illinois lawmakers broke through decades of gridlock and passed a bill to bolster the worst-funded U.S. state pension system, taxpayers are already seeing the benefits.
The state sold $350 million of taxable general-obligation bonds yesterday to pay for work on roads, bridges, schools and public transportation. Debt due in December 2038 priced to yield 5.65 percent, data compiled by Bloomberg show. The 1.84 percentage points of extra yield above benchmark Treasuries was almost a third less than in a comparable sale in April, Bloomberg data show.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access